24/7 Market News Snapshot 19 December, 2024 – Phio Pharmaceuticals Corp. Common Stock (NASDAQ:PHIO)

December 19, 2024

DENVER, Colo., 19 December, 2024 (247marketnews.com) – (NASDAQ:PHIO) are discussed in this article.
Phio Pharmaceuticals Corp. has experienced a remarkable boost in its stock price, currently trading at $4.125, representing an extraordinary increase of 64.34% from the previous close of $2.510. This surge is supported by a substantial trading volume of 1.81 million shares, signaling strong investor interest and indicating a potential breakout in the market sentiment surrounding the company.

In conjunction with this positive market response, Phio Pharmaceuticals is making significant strides in its clinical endeavors, particularly in the ongoing Phase 1b trial for PH-762, targeted at treating serious skin cancers such as cutaneous squamous cell carcinoma, melanoma, and Merkel cell carcinoma. This progress follows a favorable recommendation from the Safety Monitoring Committee to escalate dosage levels, a testament to the promising safety profile of the trial.

Utilizing the proprietary INTASYL® siRNA gene silencing technology, PH-762 has demonstrated substantial efficacy. Preliminary results from the second cohort of the trial, which has enrolled four patients with cutaneous squamous cell carcinoma, are noteworthy. Outcomes reported at Day 36 post-treatment include a complete tumor response in two patients and approximately 90% clearance in a third patient. These results underscore not only the treatment’s effectiveness but also its excellent tolerability, with no serious adverse effects reported.

Dr. Mary Spellman, acting Chief Medical Officer of Phio Pharmaceuticals, highlighted the encouraging data from the clinical trial and expressed excitement about the ongoing enrollment, reinforcing the company’s dedication to innovating treatments for aggressive cancers. As Phio Pharmaceuticals continues to progress in its clinical efforts, the biotechnology sector remains optimistic about the potential impact of its research and therapies in addressing critical health challenges.

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